IMF cuts global growth forecast, warns of stagnation risk

April 12, 2016 1:16 PM

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WASHINGTON The International Monetary Fund cut its global growth forecast for the fourth time in the past year on Tuesday, citing China's slowdown, persistently low oil prices and chronic weakness in advanced economies.

The Fund, whose spring meetings along with the World Bank will be held in Washington this week, forecast that the global economy would grow at 3.2 percent in 2016 compared to its previous forecast of 3.4 percent in January.